Partner Opportunity - Le Tote

· Innovation,Technology,Simon Venture Group

Le Tote, a fashion subscription service that allows members to borrow clothing and accessories for a monthly fee, is looking to purchase products from select Simon retailers to include in their product assortment. This relationship would provide you with an additional revenue stream, access to a new customer base and in-depth ratings data on your assortment.

HOW IT WORKS

Le Tote allows members to borrow clothing and accessories for $59/month and maternity clothing for $69/month. Each shipment includes three pieces of clothing and two accessories, which you can keep as long as you like. Once you are done enjoying your delivery, simply return it to receive another. Wear. Return. Repeat. As often as you like, for a flat monthly fee. Members also have an option to purchase items for 20-50 percent off retail.

Members are able to view and edit their tote prior to shipment. This means that they get exactly what they want, while also enjoying the style recommendations that Le Tote provides. After enjoying each tote, member share in-depth feedback on every item they receive, providing Le Tote and its brand partners with deeply insightful and otherwise unobtainable consumer insights across a variety of touch-points including fit, fabrication, silhouette and design. Ultimately, Le Tote is using a highly analytical, data-driven approach to fundamentally transform the way women shop.

Over 150 brands are currently working with Le Tote, including many of our retailer partners: Free People, Vince Camuto, BCBGeneration, Kate Spade and French Connection to name a few.

A GREAT OPPORTUNITY

In addition to a new revenue stream and access to a new, highly desirable customer base, the analytics that Le Tote provides are invaluable. Retailers can utilize this data to spot trends, test into new styles and get detailed feedback on existing styles.

Because of the highly specific and large quantity of feedback that Le Tote members provide, the company can inform and share in-depth analytics with the retailer to ensure the highest rate of success. This includes valuable insights into merchandise performance (fit and style) by: age group, geography, population density and weather, to name a few.

KEY STATS

15-20% month over month growth

450% CAGR over last two years

Shipped nearly 1.5 million products in 2015, valued at over $100 million worth of apparel and accessories

Projected to ship over $450 million worth of apparel and accessories in 2016

Each member receives, on average, $650 worth of apparel and accessories each month

$30 million in funding, including $8.8 million Series A (Feb. 2015) and $15 million Series B (Nov. 2015)